Sheets Smith Wealth Management Trims Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Sheets Smith Wealth Management trimmed its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,055 shares of the semiconductor manufacturer’s stock after selling 760 shares during the quarter. Sheets Smith Wealth Management’s holdings in Skyworks Solutions were worth $568,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SWKS. Global Wealth Management Investment Advisory Inc. raised its holdings in Skyworks Solutions by 98.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 155 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in Skyworks Solutions in the 3rd quarter valued at approximately $34,000. AdvisorNet Financial Inc increased its holdings in shares of Skyworks Solutions by 790.0% in the 4th quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares in the last quarter. West Branch Capital LLC raised its stake in shares of Skyworks Solutions by 8,000.0% in the fourth quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock worth $46,000 after purchasing an additional 400 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Skyworks Solutions by 47.9% in the 4th quarter. Avior Wealth Management LLC now owns 420 shares of the semiconductor manufacturer’s stock worth $47,000 after buying an additional 136 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

SWKS traded down $0.67 on Monday, reaching $91.84. The company had a trading volume of 1,056,546 shares, compared to its average volume of 2,406,011. The stock has a 50-day moving average price of $103.41 and a 200-day moving average price of $101.90. The stock has a market capitalization of $14.74 billion, a PE ratio of 17.39, a P/E/G ratio of 4.00 and a beta of 1.35. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $115.69. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Monday, May 20th. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Insider Transactions at Skyworks Solutions

In related news, CEO Liam Griffin purchased 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $90.00 per share, with a total value of $1,002,780.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at $9,373,770. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the company from $125.00 to $90.00 in a report on Wednesday, May 1st. Susquehanna reissued a “neutral” rating and issued a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a report on Wednesday, May 1st. Rosenblatt Securities cut their target price on shares of Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Citigroup reduced their price objective on Skyworks Solutions from $85.00 to $83.00 and set a “sell” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $108.86.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.